“Momentum is everywhere. However, what defines leadership in real estate is not just knowing where the market is hot but understanding why. That’s what shapes sustainable growth.” – Mohit Mittal
As India’s real estate market scales unprecedented highs, crossing ₹4 lakh crore in residential sales in 2024, market watchers are busy celebrating the numbers. But for Mohit Mittal, Executive Director at Viraaj Ventures and President at Realty Assistant, this surge isn’t merely a cyclical upswing—it’s a structural transformation.
“The data is just the first layer,” he notes. “The deeper story lies in behavioural shifts, infrastructural triggers, and trust cycles.”
North vs. West: A Tale of Two Growth Curves
The western region commands 38% of all housing sales, driven by Mumbai and Pune’s steady absorption and supply expansion. But Mittal sees Delhi NCR as the region redefining luxury, scale, and investment velocity.
“Western India continues to attract consistent investor attention, especially in high-yielding micro-markets like Thane & Pune”, he explains. “But what’s unfolding in the North—particularly Noida and Gurugram—is nothing short of a breakout story.”
Noida’s property prices have doubled in the last five years. Its average three-year growth rate has outpaced even Mumbai.
Mittal attributes this to a confluence of factors: “Policy reforms, connectivity to Delhi and Jewar Airport, and a rising appetite for branded residential projects. Noida is no longer a value buy—it’s an aspirational market.”
Luxury Is Local, But Aspiration Is Universal
According to Mittal, one of the most striking trends is the normalisation of luxury across markets.
“Gurgaon and Noida are no longer outliers when it comes to premium absorption. Luxury homes- ₹4 crore and above- now see serious traction in NCR, driven by a younger, more confident buyer base”.
This shift isn’t just happening in metros. He sees emerging Tier-2 cities like Lucknow, Jaipur, and Indore warming up to aspirational living. “Developers are moving from delivery mode to experience mode. And buyers are responding.”
Investor Confidence Returns—With Caveats
With NRIs and HNIs making a strong comeback to the market, Mittal sees a diversification of investor intent—from short-term arbitrage to long-term rental yields and second homes.
“Today’s investor isn’t chasing launches. They’re chasing credibility, developer strength, legal clarity, and construction milestones. That’s where Realty Assistant has an edge, driven by clients as their biggest trust advocates.”
The company’s portfolio has seen increased demand in markets like Mumbai, Noida, and Pune, with a customer base of over twenty-five thousand across these regions.
The Road Ahead: Depth Over Speed
As the market accelerates, Mittal warns against mistaking momentum for maturity.
“The real test of India’s real estate evolution will be how we handle scale,” he says. “Are we planning infrastructure in sync with demand? Are we building for sustainability, not just speed?”
Yet, alongside questions of scale and sustainability, another issue quietly shapes the future of Indian real estate—the trust deficit. For too many investors, the journey still feels uncertain. Mismatched promises, legal ambiguities, and delayed deliveries have led to a credibility gap the industry can no longer ignore.
“Trust is no longer a value-add,” Mittal notes. “It’s the very foundation. And unless we address that, even the strongest numbers won’t lead to long-term value.”
This is where Realty Assistant Pvt. Ltd., a Viraaj Ventures group company, is carving out a new path. The company is restoring faith in the process by combining technology with transparency. From rigorous legal checks on every listing to AI-driven insights that help buyers make informed decisions, the platform is built to empower, not just transact.
And it doesn’t end at purchase. With a hospitality-style post-sale experience and an employee-first culture prioritising empathy and expertise, Realty Assistant proves that trust can scale—if you build for it.
“In the end,” he reflects, “whether it’s a ₹40 lakh apartment or a ₹10 crore penthouse, the responsibility is the same—deliver with integrity, advise with intelligence, and serve with heart.”
